TELOS BLOCK PRODUCTION AND NETWORK RESILIENCE; The TELOS token value Part 5

Block producers have always been the backbone of Cryptocurrency projects. People believe that they make or break a project. Block producers are the people that help in the validation, recording and broadcasting of transactions on a Blockchain. For those that are new to Crypto, the Blockchain is a continuous chain of transactions and cryptographic security information which have been validated by computer nodes run by block producers on a network. Since block producers are the ones that verify that transactions are true, they are a significant part of a project. The way people view them affects their belief in a project. Since the Cryptospace is about a trustless, decentralized systems, the structure of the block producer can get pretty tricky.

One of the reasons Bitcoin took off was that Satoshi Nakamato, the inventor or inventors of Bitcoin was/were able to solve the problem of double spending by using cryptographic security information recording on the Blockchain and using incentives called block rewards in the form of Bitcoin to keep block producers/miners from being malicious and so far, Bitcoin has proven that it can work.

When EOS launched, the requirement for a person to be a block producer was based mostly on votes. There were no minimum requirements for the equipment or server that…